Market Overview

The Global Bio-Based Succinic Acid Market was valued at USD 200.1 million in 2023 and is expected to reach USD 338.8 million by 2031 while growing at a CAGR of 6.8% during the forecast period (2024-2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global bio-based succinic acid market growth. Bio-based succinic acid, a key building block in the production of various materials, chemicals, and products, is a dicarboxylic acid with the chemical formula C4H6O4. Derived from renewable resources like plant-based feedstocks, it contrasts with traditional succinic acid, which is typically sourced from fossil fuels.

Increasing demand for sustainable products, coupled with growing environmental concerns and stringent regulations, propels the bio-based succinic acid market. Despite obstacles like high production costs and competition with petrochemical succinic acid, market expansion faces challenges.

Furthermore, the global Bio-Based Succinic Acid industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Application Analysis

The Global Bio-Based Succinic Acid Market is segmented among Industrial, Pharmaceutical, Personal Care, Paints and Coatings, and Other, based on Application. In 2023, Industrial accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Bio-Based Succinic Acid Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Europe dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are BASF SE, DSM, Mitsui Chemicals, Inc., Mitsubishi Chemical Corporation, Roquette Freres, Technip Energies N.V., and Corbion. 

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Bio-Based Succinic Acid Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Bio-Based Succinic Acid Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Bio-Based Succinic Acid Market Segmentation, By Application 

• Global Bio-Based Succinic Acid Market Share Analysis, By Application 

• Global Bio-Based Succinic Acid Market Growth Analysis, By Application 

• Global Bio-Based Succinic Acid Market Trends, By Application 

o Industrial

o Pharmaceutical

o Personal Care

o Paints and Coatings

o Other

6. Global Bio-Based Succinic Acid Market Segmentation, By Region

• Global Bio-Based Succinic Acid Market Share Analysis, By Region

• Global Bio-Based Succinic Acid Market Growth Analysis, By Region

• Global Bio-Based Succinic Acid Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

7. Competitive Landscape

• BASF SE*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• DSM

• Mitsui Chemicals, Inc.

• Mitsubishi Chemical Corporation

• Roquette Freres

• Technip Energies N.V.

• Corbion  

 *Similar analysis will be provided for each company listed above.